Deepak Nitrite Ltd Share Price – NSE  /  BSE

Chemicals, Small Cap

Deepak Nitrite announced that the Board of Directors of the Company at its meeting held on 20 May 2024, inter alia, have recommended the final dividend of Rs 7.5 per equity Share (i.e. 375%) , subject to the approval of the shareholders.

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Net profit of Deepak Nitrite rose 8.55% to Rs 253.86 crore in the quarter ended March 2024 as against Rs 233.86 crore during the previous quarter ended March 2023. Sales rose 8.40% to Rs 2126.21 crore in the quarter ended March 2024 as against Rs 1961.36 crore during the previous quarter ended March 2023.

For the full year,net profit declined 4.82% to Rs 810.90 crore in the year ended March 2024 as against Rs 852.00 crore during the previous year ended March 2023. Sales declined 3.64% to Rs 7681.83 crore in the year ended March 2024 as against Rs 7972.06 crore during the previous year ended March 2023.

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Deepak Nitrite will hold a meeting of the Board of Directors of the Company on 20 May 2024.

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Deepak Nitrite has received reaffirmation in long term credit rating of ICRA AA and short term rating at ICRA A1+ for Rs 490 crore bank facilities and Rs 200 crore commercial paper of the company. The outlook on the long term rating is Positive.

Further, ICRA has also reaffirmed the long term credit rating of ICRA AA and short term rating at ICRA A1+ for Rs 729.02 crore bank facilities of Deepak Phenolics, a wholly owned subsidiary of the company. The outlook on the long term rating is Positive.

Additionally, ICRA has reaffirmed the long term credit rating of ICRA A and short term rating at ICRA A2+ for Rs 200 crore bank facilities of Deepak Chem Tech, a wholly owned subsidiary of the company. The outlook on the long term rating is Positive.

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